CHICAGO-AREA HOME SALES SURGE IN JUNE!
MEDIAN PRICES RISE, MONTH-TO-MONTH . . . BUT STILL 18% BELOW JUNE, 2008 LEVEL!
It appears as if the housing market is hopping once again in Chicago! Our Team is seeing it - especially with less-expensive properties catering mainly to first-time homebuyers - and the statistics are bearing this out as well.
Between May and June, sales of Single Family Homes and Condominiums in the Chicago Metro Area jumped 25.8%. According to the Illinois Association of Realtors, as reported in today's Chicago Tribune by Mary Ellen Podmolik, 7.140 homes were sold in and around Chicago last month. That's still 8.5% below their June, 2008 level.
Median home prices across the Chicago Area climbed again in June as well, by 5% over May, to $210,000. Unfortunately, today's median price is 18% below last year's June level.
In the City of Chicago, units sold rose 27.2% in June versus May, while the Chicago Median Sales Price increased 7.7% month-over-month. However, both figures were far below June, 2008 levels. Last June, the median home price in Chicago was $309,945. Today, it's $242,275 - down a hefty 21.8% versus last year. The City of Chicago Units Sold figure fell 13.1% between June, 2008 and June of this year.
DEAN MOSS & DEAN'S TEAM CHICAGO
